Bitcoin Forum

It's not so much a deal but I think this should be here. Bitcoin price calendar stamp in month of October.

2010: $0.06
2011: $5
2012: $12
2013: $127
2014: $383
2015: $238
2016: $614
2017: $4388
2018: $6579
2019: $8317
2020: $10,832

It's noticeable how in 2017 skyrocketed the price of bitcoin, that's when I entered the cryptospace and discovered this forum, I was able to ride the hype the pre pump in September 2017, that was a blast.

Seeing the prices of bitcoin through years makes me think of Moore's law,  you can check it out in google though it was not really doubling the price every year. Is a new law possible for the price of bitcoin like Moore's law?

We had halving on July 9th, 2016, the price was 650$ but the magic hit in winter and from winter, price went up to the highest one in bitcoin's history. Btw there were still many factors in 2016 that stopped the speed of price rise that includes scam of hashocean and other things that happened.

Your statistics shows that bitcoin only grows and that's not a correct indicator to only look at price stamp of certain months because there was a lot of changes in prices, that includes prices lower than those indicators and higher ones. We had $6579 in 2018 this time but at the same time we don't have to forget that 2017 year played a huge role in it, the rise up to 20K USD. But we had moments like price between 3-4K USD. Also, more than 1 year ago bitcoin hit 14K USD again but still didn't reach to that amount again.

I don't like only looking at numbers because there is history behind every number and there were certain moments that caused those numbers. What about to write price stamps of bitcoin for each month of certain years? Will it look as beautiful and hopeful as October?

If you look at the analysis of bitcoin prices, it is true that from year to year there is always a big increase. I think they are very lucky those who bought bitcoin in 2010 and are still holding it today. Moore's law seems quite right to describe the increase in the price of bitcoin. Because the price has indeed increased many times.

It could be some sort of hodl law.

I remember getting here in 2015 (when we were at $150/coin and not knowing where we were going.

At that time I certainly wouldn't have expected it to reach $20k... That'd have been $1.5k to $200k in a rapid amount of time... Who knows, maybe it cna happen again...

Don't trying to prove anything from my post though, but I guess the month of October became memorable because of 2017 blast, as we know October that year is really the start of bull run of the most incredible time of bitcoin so far. And I agree there are factors that affected the price, it's too many to mention. It's just that October is memorable.

Well noticeably, price in month of October every year is good, maybe the start line of the a good run.

Trying to show someone this increase in price with calculating of profit will certainly blast out the front head of newcomers. Here is the fulcrum support, it's never too late to hodl some amount btc as the price statistics shows exactly how how the price will go in the future.
I just remembered the October memorable part every year that shows sluggish move of bitcoin price, the current price of $10822 had been stagnant for almost three months now, probably this month of October will definitely cause the spike in price.

If it matches with travel history so far, maybe it will. Because in October it is indeed the starting line for bitcoin bullish until the peak later in December.
Will bitcoin hit a new ATH this year or is there another scenario.

I was on this forum starting in 2016 and did not fully understand what bitcoin was and how to get it. would be very lucky if I had it at a price of $ 614 and it is holding up until now.

price history seem to indicate its going to keep climbing. if you are not a holder, the best thing to do is just keep looking for opportunities and forsee when its going to drop because almost every time, BTC drops giving everyone a chance.

just like today when Bitmex founder Hayes got arrested and seem like they are going to encounter hard times. the price dips and although its not that deep, its still a good chance. it may actually go below it soon. well hopefully :)

Historically bitcoin is great and I’m happy that I entered into bitcoin hoping also to see such bull market though bitcoin is still struggling to make another bull run but when time comes, new peak will be reach. This year is not that good at all but hoping that we can still end this year with good prices, and up to next year.

I don't see some valid sources above. Why don't you enclose them to ensure people that it is the right information and not mislead them? I think it is important as you are talking about historical prices, which means the data of Bitcoin price so far.

I don't think Moore's law really can be applied to the Bitcoin price? Even you can show us it fits with Moore's law so far, who guarantees the future price? We don't really know what will happen in the next few years. Sometimes what has happened in past may not happen in the same scheme in the future. Please remember that the Bitcoin price is very volatile and unpredictable as well. I don't think it can follow a certain approach like Moore's law. IMO

A lot of the people here are hoping for the price of Bitcoin to go up, but we can’t tell when it’s going to be.
The expectation was high around ending of 2019 and beginning of 2020, plus this Halving and all that, but the covid event wrecked everything and it’s now like we had to go back to square one.

I believe the price will still increase but I don’t know about reaching an all time high price. It has been stable since it dropped to $10,000 and it’s not showing signs that it will go below that, maybe in a few months from now it might go up to another higher price.

The $10k region is acting pretty solid as a support, and at the same time the $11.2k is a tough resistance to beat. The next movement will probably decide whether we go down to $9k again or push all the way up to $12k. A lot of channels are getting positive about the future though.

Btw, maybe try to compare every month instead of October only, it would be a good idea to see whether there is a false narrative of "a price growth every year" or not.

With that price history I think it is safe to conclude that the closest or next possible price would be around $11k+ or $12k+. This $10k will act as a strong support despite of the FUDs that has been circulating. And we have two more months left before 2021 and I think almost everyone is waiting for that time to come hoping the next bull run to starts the bubble. The speculators are expecting something this year while the others are expecting next year and I am the one expecting a bull market next year. :D

I've read and searched it and is that Moore's law has something to increase every two years? If that is so then this isn't the year for it but 2021 which is being expected by many other holders to see that the pump shall come.

Bull run comes occasionally. It won't be balance anymore if there's a bull run for each year and it has go through bearish sequence but we can count on bitcoin as a volatile asset, it comes unexpectedly.

I don't really understand Moore's law what you mean, but if we look at the history of bitcoin based on the annual chart, every 4 years the price of bitcoin always rises after the halving occurs,
but this can happen when demand for Bitcoin increases, in this period October is the month of determination for bitcoin to continue its trend, whether it will be bullish or bearish.

if you ignore the over-priced (bubbles) and under-priced (reverse bubbles) states of the market during the past 11 years and look at the charts again you can clearly see that the price has always been going up. for example $20k was not a natural price. it was way above bitcoin's intrinsic value. similarly the $3k price in 2018 was also unnatural but this time way below the bitcoin's intrinsic value. these are unstable states that market enters from time to time thanks to overly excited day traders that also won't last. they don't represent real value of bitcoin.

It's prove that bitcoin is good opportunity or to invest to your money because count to think of it from cents to ten rhousands dollars that's makes you millionaire if you bought bitcoin in 2009.

People are like to go back to that year because price is very cheap and no one gonna find out what happens after more than 10 years if we know price is rising for sure we buy a lot of bitcoins and we earn millions of dollars for this now but we can do that but a low percentage to happen but the good with is we are earning money because of the bitcoin and Im contented with this and hoping bitcoin will live long and price continue increasing.

it all comes down to two very simple things: utility and adoption.
bitcoin has been offering a very unique payment system that has nothing similar to it. the decentralized global currency is new and has not yet been adopted properly.

these two means bitcoin has a ton of potential that is going to slowly show itself mostly in form of its price going up over the long term. that is why most people invest in bitcoin instead of busying themselves with short term price changes.

when you add the  fact that bitcoin has a limited supply, you can see that this kind of price rise over time is not surprising at all.

i agree with that bitcoin price starting 2010 it is 0.06$ and it will grow yearly until it will reached 20000$ in 2018 but on 2019 it will flack at a lowest price in 3000$ but now on it will go up in this year it will go around 10000$ and still up slowly

While people love to talk about bitcoin highs, it is also amazing to look at bitcoin lows

Take a look at the minimum value per year in bitcoin

https://i.redd.it/cjpljxm7c6331.png

We are in a strong uptrend ;)

Historical prices of BTC can't measure at a glance .Because of it's nature it can't be said that any fixed time
Of revolution is stable.But during the life time of BTC it reached at highest price of 20k.We hope that BTC will break it's previous price continusly and reached at the top of crypto currency.

The Moore's law doesn't work ad infinitum when it comes to transistors and the cost, I believe, as transistors happen to be currently reaching the limit where quantum physics comes into play and things get very tricky. And with BTC price it's not doubling at all (it only almost doubled from 2011 to 2012). Rather, the price went up 80x, 10x then there was a negative change from 2014 to 2015, and from 2017 till 2020 the change was less than 2x. I don't think that there's a formula to calculate the price of Bitcoin as the growth has been varying wildly.

Do you guys think after 10 years the price will rise further than what it is right now? cause we still haven't crossed that $20,000 mark yet after 3 years. I wonder what will be the reason for the price to rise after 10 years. Do guys think that if ifs not for those exchanges that always getting hack, the $20,000 mark could have been crossed today? the popular hacking incident in 2020 is the Kucoin hacking incident and I'm pretty sure there will be another hacking incident after that, could it be the reason why we still here at the 10,000 marks?

https://i.ibb.co/8NpWsHL/Screenshot-2.jpg

I think  historical remarkable price of btc was year 2017.investers who had get good profit in that time. So we should be think as positive  point .btc has proove it is a good earnings platform in the market. To makes good trust in the investors. I think  so.

Bitcoin cannot be defined by any formula.  And it would not be right to do so.  Because it is never fixed.  No one can say when the price of Bitcoin will rise and fall.  There was a time when the price of Bitcoin was below $100.  Gradually the price continued to rise.  Its price skyrocketed in 2017 as it increased.  But no one was ready for this price. No one could have imagined that Bitcoin would be so expensive.  Those who joined the forum in 2015 never imagined that Bitcoin would cost around $20,000.  Who can say again that maybe Bitcoin will exceed $20,000.

Interesting. There are interesting patterns.
 I wonder what happened between October  (I assume all the prices for each year are for month of October alone?) 2014/2015.

The percentage increases between two years is even higher at 2012/2013  than 2016/2017.

Even though we might end-up for $11k this year, we still get far from last year's closed price. It has been noticed that prices keep growing despite every year's market challenge. We have the market dumps last 2018 until 2019 but the market still never makes a time to go back to $1, a thing we will consider that Bitcoin adoption keeps moving, keep increasing, and moving into higher demand compared before.

The statistics of bitcoin price it's very interesting that is total evidence to show that bitcoin will get up to $20,000 soon, approximately next two years and it will remain stagnant or constant as the value remain constant to $10,000 since 2019 till date. So therefore it's encouraging to purchase bitcoin now because looking at bitcoin price statistics 2010 and 2012 you will comprehend that btc doesn't depreciate it always goes up and remain constant for year's.

it is 11 years and there is no reason to reach the peak of the bubble this soon. not to mention that those peaks are going to always act as psychological resistances which makes reaching it tougher for no reason.

the same reason why it has been growing consistently for the entire 11 years: more adoption and the fact that bitcoin is providing a well needed utility as a global decentralized payment system.

what does shitty centralized services being hacked have anything to do with bitcoin price rise in long term?!

Yeah it looks surprising to see that bitcoin always going strong not to mention those times or months that bitcoin going ATH like in the year 2017. I was thinking thay it could do better on 2018 and 2019 but I was upset though now bitcoin has able to recover. And as mention earlier that I was surprise even bitcoin is so volatile seeing how prices went up over the period of time.

Well, i am wishing to get another year of bitcoin market price increase in the month of october next year 2021.Well going to find and see.

It is not always going strong because we have just enter $11,000 again this very moment,things that being denied for 2 weeks now.
so this maybe something that must go strong now from the weak time.
at least we stay at $12,000 this year alone is a enjoyable moment already because for sure in the next year 2021 will be fruitful for all of us.

I'm thinking of maybe something like a "Reverse Moore's Law" for the price of BTC: "If the number of transactions per block doubles, the price eventually doubles as well."

Because of its limited supply, Bitcoin, unlike microchips, can only go up in price with better performance.

While the numbers look encouraging with a clear growth, I do not think one can apply any sort of mathematical law to it. Simply because there is too much volatility and you can never predict what will happen to the market.
Perhaps picking on a different month than Oct you wouldn't see the same clear pattern; so I think this is all random without a real 'law' to it. It is well possible that the BTRC price might reach 100k as many predict but I think we are still far of from that as something 'big' need to happen such as improvements on the transaction speeds and fees etc

i like how the price elevated per year except on 2015 because this is the only year that the price nose dive but not bad because its only one and theres 10 freakin years of continous pump in btc price . reading further i saw that you also entered on the year 2017 , we are the same and we are lucky because we entered perfectly as 2017 is the year where btc and cryptos started to grow massively  . in october 2017 , price jump from 614 to 4388 but later than that year ,  the price jump up to 18k usd and more  . 

Its an old law, i don't know what its called, but it does exist. Its not "twice" every year, it is vertical in the beginning and horizontal at the end. Its a logarithmic curve.

If the USD magically held the exact same purchasing power over time (it doesn't) then the price of bitcoin against the USD should increase less and less over time. It will approach a flat, without actually ever flattening. Of course it cannot go down either., unlike gold, no new bitcoins will ever be discovered after 2140.

Fiat money is made lose value on purpose, because of the dogmas of those economists not following the Austrian school.

Bitcoin is not losing value by having a "controlled" inflation that fits those mistaken models. Other assets like gold exhibit a similar curve in its historical prices. The early investors made the most by buying in the first few years, and that is how it is. By 2017 most was already gained, sure, people will gain less and less overtime as it enters maturity.

Said in another way, you would have always gained more the year before. And by that i mean buying and selling. If you don't sell, even better. Your wealth will not decrease and that is what matters.

Fiat cannot do the same, because a politician can ruin it overnight. As long as the State has control over the money, your wealth will never be safe. Been there, done that. Zimbabwe and Venezuela are not the last, even the almighty USD can fall into the hyperinflation spiral, just let your politicians do what they have been doing, especially recently...

When the USD falls and brings the EUR along with it, you will remember when you read these lines "Why did i not move my wealth in to bitcoin". Mark these words. I told Argentinians this a few years ago, now they are crying. This pattern can never end until all fiat is gone and the State, the banks and politicians are unable to mess with the money anymore.

State and money will go their separate ways, like State and religion did (supposedly).

We are obliged to study the history of Bitcoin movement, so we can compare Bitcoin prices every year. I also agree that every October
the price of Bitcoin is good, usually it will continue to rise until the end of the year. If you learn from the history of Bitcoin movement,
it means that now is an important moment to hold Bitcoin that we have. And hope Bitcoin can go up in price at the end of the year for
taking profit.

Apart from all the valuable comments that you provide. I think that when looking at the history of the price of Bitcoin they reflect the trust that we have placed in Bitcoin. We have clung to the freedom to manage our own money without depending on financial institutions and in this unusual year Bitcoin continues to be our best ally.

I believe, Bitcoin performance doesn't depend on our trust in it. It's the potential utility of BTC in many fields is what makes it highly attractive for investors, most of whom don't dream of being independent from financial institutions. They just want to invest their money in the right asset. And I think it's a good thing, tbh.

This your post are verifiable facts but not really accurate. The list shows that there is no month that bitcoin did not rise in price but we all remember at a certain period of
 time the price, the price fell drastically and left many people lose the investments.

We cannot really predict what will be the price for the next 10 years. As you can see, the only pattern we may see here is the increasing of its price but there are no patterns of having the same ratio because the price increase may also get lower and may get higher every year. Even if we don't know what will be the price for the next 10 years, it is better if we manage to invest on bitcoin now because the price will surely go higher. I really regret that I set aside bitcoin. I know about bitcoin wayback 2013 but i doubted it and i think it will just end up having a problem but know i proves me wrong.

Maybe you should have read the OP more attentively.


For the future, pay attention to by whom the post was merited. nutildah and BrewMaster wouldn't give a merit to something that was "not really accurate".

Also, compare "2014: $383" and "2015: $238". No one was saying that Bitcoin price was only rising with time.